HealthStream Sells Patient Experience Platform to Press Ganey
The two companies have also entered a seven-year agreement that makes Press Ganey's curriculum available exclusively on HealthStream’s workforce training platform.
Nashville-based HealthStream is selling its Patient Experience platform to Press Ganey Associates for $65.5 million in cash.
The two companies also announced that they have begun a seven-year deal that makes Press Ganey's curriculum, courses and certificate programs available exclusively on HealthStream's workforce training platform.
"Press Ganey is passionate about advancing patient-centered care supported by a high performing workplace," Press Ganey CEO Patrick T. Ryan said in a media release.
"We have great respect for the partnerships that HealthStream has developed with its patient experience and engagement clients and look forward to adding these organizations to Press Ganey's transformative platform," Ryan said. "We are committed to ensuring a seamless transition and to partnering in their mission to deliver safe, high-quality, patient-centered care."
HealthStream started PX in 2005 when it bought Data Management & Research Co.
In a separate announcement, the two companies said that all of Press Ganey's newly acquired Patient Experience Improvement and Engagement libraries will be available to HealthStream customers. Both companies will sell Press Ganey content through HealthStream-powered applications.
"Although we are divesting our PX business to Press Ganey Associates, we are entering into a new strategic collaboration with them," HealthStream CEO Robert A. Frist, Jr. said.
"HealthStream is pleased to add Press Ganey to its growing network of outstanding healthcare content providers—the industry's broadest selection of thought-leading content from among leading healthcare associations, medical publishers, and nursing associations," Frist said.